Steps to Take When Starting a Business

Many people dream and talk about starting their own business for years if they ever get around to doing it. It's important to take a lot of things into consideration before starting your business, whether you'd like to start an L.L.C. or start a corporation.

Make sure there is a demand for your product or service. You may have a great idea and a great product at hand, but if you're planning on opening up an ice cream shop in the south pole, you wouldn't do to good, because there is no demand for it. Also consider your competitors, if there were a barber shop on every block in a certain neighborhood, you probably wouldn't want to open another one in that same neighborhood, even if you did have the superior service, sometimes it's just too hard to convince people to stray away from their regular spots.

Have a marketing plan. If you're opening a business, plan on what type of marketing strategies you want to take to ensure people know about your business. You may have the best product or service, but if no one knows about it.

Learn about what filings you need to complete before starting your business. A lot of people are under the assumption that they can just get a business license or file for a corporation and they're ready to go, but depending on your county and city and the type of business you're running you may need additional documentation to be filed in order to be in compliance with the your local government.

The reason you start your own business is to be your own boss and have fun doing what you do, so while it's important to keep an active part of starting and running your business, it's also important to not stress too much. Good Luck!

Follow us on Twitter

So Incorporate Fast has started using some technology and social media to update our clients on whats going on with us.  You can follow us now on twitter @incorporatefast.  We will be posting some discounts and promotions from time to time.  We will also post some news going on in the business sector regarding rules and regulations for corporations and LLC's.  We just started this so we could use some followers.  You can click on the link to get to our Twitter page.

 

Small Businesses Helping Small Businesses

The New York Times recently profiled Gail Warrior, a minority and female who runs her own construction business, Warrior Group. She founded the business in 1997 and has since grown the business to a 50 employee organization which brought in $124 million last year. Gail's new venture doesn't have to do with growing her business though, just last month she started Warrior Small Business Academy, which helps other small construction or construction-related businesses out in all aspects, whether it be in finance or marketing. The classes take five weeks to complete and are offered for free, there are some stipulations, as the business must be a woman or minority owned, as well as have been in business for a minimum of two years. If you'd like more information about this please visit the Warrior Group. If you would like information forming your own construction or construction related business whether you want to open an L.L.C. or incorporate online, please give us a call at 866-999-8200.

California small business program may be out of funds

In another blow to small business in California, the program designed to help small business cope with the recession may be coming to an end.  Budget problems with the state have forced government leaders to stop funding a program that is designed to help small business.  These funds are then matched by the Federal government.  Without these funds, there will be no match and therfore no help for small business in California.

The federal funding for the program is $12.5 million.  Its not a lot of money in terms of the overal budget, but it is enough when matched to help small business to restructure themselves to better cope with the recession.  All business has been suffering in California.  California consumers are cutting back on discretionary spending.  Consumers are not going out as often in order to save money.  Business relies on these funds to better target their clients to ensure the businesses survival.  Most of the companies that are hard hit are restaurants, movies, gyms, etc.. 

Small business is key for the economic recovery for California.  The state can't rely on temporary job solutions but must work to keep these small businesses open. 

We can help you protect your small business.  Opening a corporation or opening a LLC will help protect your personal assets from a lawsuit.

Successful Small Business Tips # 8

We've talked endlessly about having a strong web presence, but it's also important that your web presence is the correct one. If you go with a professional web designer it's important to be clear with what your business does and how you want to be portrayed, the possibilities are endless when it comes to web design, and sometimes it's ok to let your designer run free with their ideas. Often times when starting up, you want to include too many bells and whistles on a site that aren't necessary, and your designer should inform you of that. It's important to remember this because you want your website to look professional, if you have a flashy site, many clients will dismiss your company solely based on that. The best advise is to stay simple and stay professional, you can add on to your site later as your company grows, but there are certain things that should always be included and easy to find on your site. The contact information is one of the most important features of a website, it should be easy to find. If you're starting an e-commerce site it's important that your shopping cart and checkout process is fast and easy, people are too quick to go to another site if yours isn't easy to figure out.

If you need help starting a small business or starting your own website please contact us at 866-999-8200.

Square Up to Help Small Business Development

If you ever started a business or are thinking of starting a business you should be prepared for a lot of solicitors, many offering services you really don't need, but some services are legitimate and can be helpful to your business. We've gotten so many mail solicitations for credit card terminals, all promising so much for very little money. Credit card acceptance is important, you can't really succeed as a business online without accepting credit cards, but there are so many services out there that offer merchant accounts at a low cost and they're easy to sign up.

When you have a traditional brick and motor store, it's also important to accept credit cards, not accepting cards really hurts a business, especially since cash is becoming less and less important in today's market. Why many business owners do not accept credit cards is puzzling, maybe they do not want to deal with the hassle of learning how to use the terminal, or don't want to open a merchant account or they just like to keep things simple with cash.

The days of paper money are winding down, and now a company called SquareUp is bridging the gap between cash and traditional credit card terminals. The device, which is free, is attached to an iPhone, iPod Touch or iPad and allows anyone to accept credit cards instead of cash. This is great news not only for small businesses, but for outdoor vendors, event vendors as well as regular folks just selling stuff on eBay or CraigsList. Not only is the device free but the rates for such transactions are competitive with the rate services like Paypal would charge you, and it wouldn't require the user to sign up and sign in.

For more information visit SquareUp, and for more information about forming your own business or whether it be forming a Limited Liability Company, forming a Corporation or even applying for a DBA, please give us a call at 866-999-8200.

Successful Small Business Tips # 5

Social media is an important tool these days. Many small businesses are quick to sign up for Facebook and Twitter but there's no sense in establishing accounts if you're not going to be active in the communities. If you don't have time to update these pages there are also several services that can link pages such as Facebook and Twitter together. It's important to stay active in the community because, even if this is just a trend, it's how consumers are staying in contact with their favorite companies and it's also how companies can spread the word about promotions and get their name out there. There is also a flip side, and sometimes companies spend too much time and energy on social networking sites, so it's important to find a balance and have realistic views on what the social networking will do for your company, like any other online marketing tool, it takes time to see results, but at the minimum you will be able to interact with your clients and see what they're saying about your company, some may even have suggestions on how to make your product or service better.

To learn more about incorporating online or forming an LLC with Incorporate Fast, please visit our site.

Twitter and Your Business

By Administrator at April 30, 2010 01:49
Filed Under: Marketing your business, Tips: Starting a business

You hear the phrases all the time, "Tweet me" "Are you on Twitter?" "What's your Twitter name." It's easy to get caught up the hype of new technologies, just a couple of years ago, MySpace was all the rage, while now most pages are hardly logged into, let alone updated. So what's so great about Twitter, and more importantly, what's so great about Twitter for business? We're here to tell you.

If you want to start using Twitter for one reason and one reason only, that reason is Marketing. Because Twitter is so easy to use, a lot of people will follow any Twitter page they are remotely interested in, and if this means solely getting your business name out, it is a useful tool. Having a Twitter page you should really update it at least once a day, with something relevant to your business as well as something people might enjoy reading, they might even ReTweet it. When someone ReTweets something you've posted, it's extremely valuable, they're getting your name out to all of their followers and the response can be wonderful. ReTweeting can also be used to hold contests, maybe your giving a product or service away, and to enter a Twitter user must follow you and ReTweet about your contest, this ensures you get your name out there and if it goes really good you will get new followers.

Another reason why Twitter is good for your business is because it gives your clients a neutral place to voice their opinions, praises or concerns. It's great to get truthful feedback, so you can know what you should change and what you should continue doing in serving your clients.

From the smallest companies like Crumbs Bakeshop to huge organization like the Dallas Cowboys, everyone can utilize Twitter. If you want to organize a business in California, Texas or any other state, please let us know, and don't forget, we also have web services.

Just a Few Common Mistakes

It's not good to focus on negative aspects, but there are a few really common mistakes new business owners make.

The first mistake we've already discussed, so we won't go into detail, it's not having a plan. There are businesses that have survived and even thrived without so much planning, though those cases are far and few between, also had they made a plan they probably would have thrived quicker than just making decisions on a whim. After you have your plan you should be sure and protect yourself by filing for an LLC or Corporation.

Spending too much money: A big mistake that new business owners make is spending too much money, on decor, furniture, employees, office supplies. Sometimes people think having more is better than not having enough, but when you're on a tight budget, you might not need that extra computer or extra employee. It's always a great idea to start out with things you absolutely need, if you can't handle the business without an extra computer or employee, get another, but it's important to weigh out your supply and demand, there's  no need to produce 1000 products a week when there's only a demand for 500 a week.

Marketing: We've discussed this also a bit, but it's important to have a marketing plan, too many business start and no one knows about them besides their family and friends, who will often ask for hand outs. Whatever your marketing plan is, be sure you have one, an effective one that will get the word out to people that you exist. Since we live in the age of the internet, it's easy to do this at lower costs than in the pasts, you just have to know where to put the word out.

Mis-pricing Goods: Another common business mistake is to mis-price goods, pricing them too low or high, it's important to not undersell yourself, also be sure you have a quality product, if not you risk the chance of losing repeat business. 

These are all common mistakes, and if you've made one already, you should plan to correct the mistake as soon as possible. Good luck!

Focusing on Business and Services

When starting a new business it's important to have a plan. Some people jump into business because they have a great product but don't really think of the business side of things. If you're not going to split your focus between your product or service it's important to bring someone in that you trust with business aspects.

Alot of people prefer to have their CPA take care of taxes and other loose ends when starting a business, and it's a wise move. If you're working by yourself, you want to stay in compliance, not only with the state, but the city and county as well.

Another way to get around having someone help you is to take a business class at a community college if you do not have any business experience, many colleges even offer weekend workshops focusing on business.

Once you've got all your basics out of the way, you should focus on marketing, any new business wants the world to know they exist, if you're starting a service or retail store, it's imporant to be found online, you should create a website or some kind of web presance, lots of small businesses only rely on websites like Yelp, which can be really helpful (or hurtful if your service isn't up to par). It's important to have a plan when it comes to your marketing strategies also, if you're in a metorpolitan area, it's not uncommon to see businesses handing out fliers or coupons to their store or restaurant, sure you might have to give a little to gain a client, but if your product or service is good, they'll come back.

There are lots of things to think about when starting a business, so organization is key, keep that in mind.

About this Blog

IncorporateFast.com is a division of Vendor Solutions, Inc. and we have been providing services to small & medium sized businesses online for over 10 years.  Our mission is to assist the small business owner operate and grow their business in an affordable and cost friendly way.  We look forward to hearing from you at 1-866-999-8200.